TY 2024 Form 990

- TIN:

Form990

Department of the TreasuryInternal Revenue Service

Return of Organization Exempt From Income Tax

Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)

Do not enter social security numbers on this form as it may be made public.

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

A For the 2024 calendar year, or tax year beginning 01-01-2024 , and ending 12-31-2024

BCheck if applicable: Address change Name change Initial return Final return/terminated Amended return Application pending

CName of organization
St Anne's Credit Union

Doing business as

Number and street (or P.O. box if mail is not delivered to street address)
286 Oliver Street

Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Fall River, MA02724

D Employer identification number

04-2128094

E Telephone number

G Gross receipts $ 57,274,815

F Name and address of principal officer:
Peter Panaggio
286 Oliver Street
Fall River,MA02724

Tax-exempt status: 501(c)(3) 501(c) ( 14 ) (insert no.) 4947(a)(1) or 527

Website:

www.stannes.com

H(a)

Is this a group return for
subordinates? Yes No

H(b)

Are all subordinates
included?

Yes No

If "No," attach a list. See instructions.

H(c)

Group exemption number

K Form of organization: Corporation Trust Association Other

L Year of formation: 1935

M State of legal domicile: MA

Part I

Summary

1	Briefly describe the organization’s mission or most significant activities: St. Anne's Credit Union (the "Credit Union") provides a variety of financial services to its members through its full service offices and loan centers in southeastern Massachusetts. Its primary deposit products are savings, checking, money market, and term certificate accounts and its primary lending assets are residential mortgage, commercial mortgage and consumer loans.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	10
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	7
5	Total number of individuals employed in calendar year 2024 (Part V, line 2a) ......	5	166
6	Total number of volunteers (estimate if necessary) .............	6	10
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	0
9	Program service revenue (Part VIII, line 2g) .........	29,927,657	48,882,747
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	6,925,371	6,094,556
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	4,174,548	0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	41,027,576	54,977,303
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	152,992	179,253
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	13,888,133	12,972,526
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	24,962,104	38,952,585
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	39,003,229	52,104,364
19	Revenue less expenses. Subtract line 18 from line 12.......	2,024,347	2,872,939
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	1,199,974,669	1,349,433,146
21	Total liabilities (Part X, line 26).............	1,089,480,104	1,235,715,626
22	Net assets or fund balances. Subtract line 21 from line 20.....	110,494,565	113,717,520

Part II

Signature Block

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.

Sign Here

	Signature of officer	Date

	Type or print name and title

Paid Preparer Use Only

Print/Type preparer's name

Preparer's signature

Date

Check if
self-employed

PTIN

Firm's name

Firm's EIN

Firm's address

Phone no.

May the IRS discuss this return with the preparer shown above? See Instructions. ..........YesNo

For Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 11282Y Form 990 (2024)

Form 990 (2024)

Page 2

Part III

Statement of Program Service Accomplishments

Check if Schedule O contains a response or note to any line in this Part III..............

Briefly describe the organization’s mission: St. Anne's Credit Union (the "Credit Union") provides a variety of financial services to its members through its full service offices and loan centers in southeastern Massachusetts. Its primary deposit products are savings, checking, money market, and term certificate accounts and its primary lending assets are residential mortgage, commercial mortgage and consumer loans.

Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ..................... Yes No

If "Yes," describe these new services on Schedule O.

Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ........................... Yes No

If "Yes," describe these changes on Schedule O.

Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.


4a	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	St. Anne's Credit Union is a cooperative owned, directed by, and dedicated to is members. At the end of 2024, the Credit Union had $1,020,558,000 share account deposits and $1,024,892,000 in loans to members.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses

Form 990 (2024)

Page 3

Part IV

Checklist of Required Schedules

Yes

Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A.....................

Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. ...

Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I.............

Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II.........

Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part III..

Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I Click to see attachment

List of Attached Documents:

// Content

.........................

Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part II Click to see attachment

List of Attached Documents:

// Content

....

Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part III Click to see attachment

List of Attached Documents:

// Content

..............

Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IV Click to see attachment

List of Attached Documents:

// Content

..............

Yes

Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......

If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.

Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment

List of Attached Documents:

// Content

...................

11a

Yes

Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VII Click to see attachment

List of Attached Documents:

// Content

.......

11b

Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIII Click to see attachment

List of Attached Documents:

// Content

.......

11c

Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IX Click to see attachment

List of Attached Documents:

// Content

............

11d

Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part X Click to see attachment

List of Attached Documents:

// Content

11e

Yes

Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part X Click to see attachment

List of Attached Documents:

// Content

11f

Yes

12a

Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XII Click to see attachment

List of Attached Documents:

// Content

......................

12a

Yes

Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment

List of Attached Documents:

// Content

12b

Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E

14a

Did the organization maintain an office, employees, or agents outside of the United States? .....

14a

Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........

14b

Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....

Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...

Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....

Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............

Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................

20a

Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....

20a

If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?

20b

Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II..... Click to see attachment

List of Attached Documents:

// Content

Yes

Form 990 (2024)

Page 4

Part IV

Checklist of Required Schedules (continued)

Yes

Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment

List of Attached Documents:

// Content

Yes

24a

Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............

24a

Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...

24b

Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............

24c

Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...

24d

25a

Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....

25a

Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................

25b

Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II Click to see attachment

List of Attached Documents:

// Content

...........

Yes

Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?

If "Yes," complete

Schedule L, Part III Click to see attachment

List of Attached Documents:

// Content

.........................

Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):

A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV...................... Click to see attachment

List of Attached Documents:

// Content

28a

A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV..... Click to see attachment

List of Attached Documents:

// Content

28b

A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................

28c

Yes

Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..

Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................

Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I

Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................

Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............

Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................

35a

Did the organization have a controlled entity within the meaning of section 512(b)(13)?

35a

If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...

35b

Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2.............

Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI

Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............

Yes

Part V

Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........

Yes

Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..

31,044

Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .

Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................

Yes

Form 990 (2024)

Page 5

Part V

Statements Regarding Other IRS Filings and Tax Compliance (continued)

Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................

166

If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Yes

Did the organization have unrelated business gross income of $1,000 or more during the year?...

If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...

At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..

If "Yes," enter the name of the foreign country:
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..

Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?

If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............

Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...

If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................

Organizations that may receive deductible contributions under section 170(c).

Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................

If "Yes," did the organization notify the donor of the value of the goods or services provided? .....

Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................

If "Yes," indicate the number of Forms 8282 filed during the year ....

Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?

Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..

If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................

If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................

Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........

Sponsoring organizations maintaining donor advised funds.

Did the sponsoring organization make any taxable distributions under section 4966?........

Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...

Section 501(c)(7) organizations. Enter:

Initiation fees and capital contributions included on Part VIII, line 12 ...

10a

Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities

10b

Section 501(c)(12) organizations. Enter:

Gross income from members or shareholders .........

11a

Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........

11b

12a

Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?

12a

If "Yes," enter the amount of tax-exempt interest received or accrued during the year.

12b

Section 501(c)(29) qualified nonprofit health insurance issuers.

Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.

13a

Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....

13b

Enter the amount of reserves on hand ............

13c

14a

Did the organization receive any payments for indoor tanning services during the tax year?.....

14a

If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..

14b

Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.

Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.

Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.

Form 990 (2024)

Page 6

Part VI

Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.

Check if Schedule O contains a response or note to any line in this Part VI..............

Section A. Governing Body and Management

Yes

Enter the number of voting members of the governing body at the end of the tax year

If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.

Enter the number of voting members included in line 1a, above, who are independent

Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................

Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .

Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .

Did the organization become aware during the year of a significant diversion of the organization’s assets? .

Did the organization have members or stockholders? ................

Yes

Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................

Yes

Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................

Yes

Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:

The governing body? .......................

Yes

Each committee with authority to act on behalf of the governing body? ............

Yes

Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......

Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)

Yes

10a

Did the organization have local chapters, branches, or affiliates? ............

10a

Yes

If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?

10b

Yes

11a

Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................

11a

Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....

12a

Did the organization have a written conflict of interest policy? If "No," go to line 13.......

12a

Yes

Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................

12b

Yes

Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................

12c

Yes

Did the organization have a written whistleblower policy? ...............

Yes

Did the organization have a written document retention and destruction policy? .........

Yes

Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?

The organization’s CEO, Executive Director, or top management official ...........

15a

Yes

Other officers or key employees of the organization ................

15b

If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.

16a

Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................

16a

If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............

16b

Section C. Disclosure

List the states with which a copy of this Form 990 is required to be filed

Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.

Own website Another's website Upon request Other (explain in Schedule O)

Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.

State the name, address, and telephone number of the person who possesses the organization's books and records:
Peter Panaggio EVPCFO286 Oliver Street Fall River,MA02724 (508) 324-7300

Form 990 (2024)

Page 7

Part VII

Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors

Check if Schedule O contains a response or note to any line in this Part VII..............

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees

1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet

List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."

List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.

Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)				(D) Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(1) Jo-Ann Bentley...................................................................... Director	1.00 .................	X				762	0	3,799
(2) Colleen Brady...................................................................... Director	1.00 .................	X				258	0	8,098
(3) Claire Entel...................................................................... Director	1.00 .................	X				762	0	5,819
(4) Kevin C Fitzpatrick...................................................................... Director	1.00 .................	X				396	0	7,967
(5) Bernard J McDonald III...................................................................... Director	1.00 .................	X				396	0	4,452
(6) Yonaton Sunshine...................................................................... Director	1.00 .................	X				60	0	8,098
(7) Kevin Vieira...................................................................... Director	1.00 .................	X				60	0	6,842
(8) William R Bouchard...................................................................... Chair	1.00 .................	X	X			23,878	0	7,962
(9) John R Ledwidge...................................................................... Vice Chair	1.00 .................	X	X			25,673	0	7,960
(10) Bruce E Fernandes...................................................................... Treasurer/Clerk	1.00 .................	X	X			16,680	0	8,098
(11) Eileen Migliozzi...................................................................... President/CEO	40.00 .................		X			951,846	0	108,681
(12) Peter Panaggio...................................................................... EVP/CFO	40.00 .................		X			290,086	0	86,658
(13) Joseph Nash...................................................................... SVP/Chief Lending Officer	40.00 .................			X		239,350	0	52,592
(14) Michelle Marcos...................................................................... SVP Human Resources	40.00 .................				X	204,596	0	37,798
(15) Karen Skinner...................................................................... SVP Operations & Compliance	40.00 .................				X	186,780	0	37,915
(16) Jeremy Turner...................................................................... VP Information Technology	40.00 .................				X	159,610	0	41,104
(17) Luisa Rochester...................................................................... VP Residential Lending	40.00 .................				X	158,862	0	19,820

Form 990 (2024)

Page 8

Part VII

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)		(D) Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(18) Robin Levesque........................................................................ SVP Branch Administration	40.00 .......................	X	142,229	0	25,353

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	2,402,284	0	479,016

Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 17

Yes

Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............

For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................

Yes

Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........

Section B. Independent Contractors

Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.

(A) Name and business address	(B) Description of services	(C) Compensation
Fiserv 255 Fiserv Drive Brookfield,WI53045	Technology solutions	3,229,986
Cornerstone Advisors of Arizona LLC 7272 E Indian School Road 400 Scottsdale,AZ85251	Contract consulting	572,338
EasCorp 35 Corporate Drive 300 Burlington,MA01803	Cash management services	346,530
Legacy General Contracting Inc 551 Warren Avenue East Providence,RI02914	Contractor services	233,632
Mallard Printing Inc PO Box 4158 Fall River,MA02723	Printing services	223,699
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 16

Form 990 (2024)

Page 9

Part VIII

Statement of Revenue

Check if Schedule O contains a response or note to any line in this Part VIII.............

(A)
Total revenue

(B)
Related or
exempt
function
revenue

(D)
Revenue
excluded from
tax under sections
512 - 514

1a	Federated campaigns..	1a
b	Membership dues..	1b
c	Fundraising events..	1c
d	Related organizations	1d
e	Government grants (contributions)	1e

f	All other contributions, gifts, grants, and similar amounts not included above	1f

g	Noncash contributions included in lines 1a - 1f:$	1g

h Total. Add lines 1a-1f.......

		Business Code
2a	Interest on loans	525900	44,569,409	44,569,409
b	Customer service fees	525900	3,532,590	3,532,590
c	Loan fees	525900	667,291	667,291
d	Life insurance plans	524298	113,457	113,457
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		48,882,747

3 Investment income (including dividends, interest, and othersimilar amounts) ......			6,061,068			6,061,068
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
			(i) Real	(ii) Personal
6a	Gross rents	6a
b	Less: rental expenses	6b
c	Rental income or (loss)	6c
d	Net rental income or (loss).......
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a		2,331,000
b	Less: cost or other basis and sales expenses	7b		2,297,512
c	Gain or (loss)	7c		33,488
d	Net gain or (loss).........			33,488			33,488
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..

Business Code
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......
12	Total revenue. See instructions.....			54,977,303	48,882,747	0	6,094,556

Form 990 (2024)

Page 10

Part IX

Statement of Functional Expenses

Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.		(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	155,253
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........	24,000
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........	1,867,233
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	8,265,596
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	448,898
9	Other employee benefits .......	1,631,863
10	Payroll taxes ...........	758,936
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	340,511
c	Accounting ...........	182,338
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	622,873
12	Advertising and promotion ....	798,415
13	Office expenses .......	1,789,938
14	Information technology ......	3,048,990
15	Royalties ..
16	Occupancy ...........	1,729,980
17	Travel ............	38,045
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	178,114
20	Interest ...........	22,892,742
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	2,205,746
23	Insurance ...	286,228
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	Bank, loan, ATM Fees	2,397,831
b	Provision for bad debts	1,353,774
c	Banking/credit services	811,212
d	Credit reward programs	275,848
e	All other expenses
25	Total functional expenses. Add lines 1 through 24e	52,104,364
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

Form 990 (2024)

Page 11

Part X

Balance Sheet

Check if Schedule O contains a response or note to any line in this Part IX..............

				(A) Beginning of year		(B) End of year

1	Cash–non-interest-bearing ........			5,210,452	1	9,445,530
2	Savings and temporary cash investments .........			56,565,717	2	58,708,589
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............				4	9,425,344
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........			837,749,249	7	1,024,891,873
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			844,181	9	1,652,383
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	45,430,486
b	Less: accumulated depreciation	10b	25,046,454	19,145,311	10c	20,384,032
11	Investments—publicly traded securities .			257,977,782	11	205,929,686
12	Investments—other securities. See Part IV, line 11 .....				12
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			22,481,977	15	18,995,709
16	Total assets. Add lines 1 through 15 (must equal line 33)...			1,199,974,669	16	1,349,433,146

17	Accounts payable and accrued expenses .....	2,754,311	17	6,485,377
18	Grants payable ...		18
19	Deferred revenue .........		19
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D	2,020,095	21	2,142,518
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	1,084,705,698	25	1,227,087,731
26	Total liabilities. Add lines 17 through 25..	1,089,480,104	26	1,235,715,626

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........		27
28	Net assets with donor restrictions ...........		28
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....	0	29	0
30	Paid-in or capital surplus, or land, building or equipment fund ...	0	30	0
31	Retained earnings, endowment, accumulated income, or other funds	110,494,565	31	113,717,520
32	Total net assets or fund balances ...........	110,494,565	32	113,717,520
33	Total liabilities and net assets/fund balances ........	1,199,974,669	33	1,349,433,146

Form 990 (2024)

Page 12

Part XI

Reconcilliation of Net Assets

Check if Schedule O contains a response or note to any line in this Part XI..............

Total revenue (must equal Part VIII, column (A), line 12) ............

54,977,303

Total expenses (must equal Part IX, column (A), line 25) ............

52,104,364

Revenue less expenses. Subtract line 2 from line 1 ..............

2,872,939

Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..

110,494,565

Net unrealized gains (losses) on investments ...............

350,016

Donated services and use of facilities .................

Investment expenses .....................

Prior period adjustments .....................

Other changes in net assets or fund balances (explain in Schedule O) ........

Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))

113,717,520

Part XII

Financial Statements and Reporting

Check if Schedule O contains a response or note to any line in this Part XII.............

Yes

Accounting method used to prepare the Form 990: Cash Accrual Other
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.

Were the organization’s financial statements compiled or reviewed by an independent accountant?

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

Were the organization’s financial statements audited by an independent accountant?

Yes

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?

Yes

If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.

As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?

If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.

Form 990 (2024)

Additional Data

Software ID:
Software Version:

Form 990, Special Condition Description:

Special Condition Description

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow

Attach to Form 990.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

St Anne's Credit Union

Employer identification number

04-2128094

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow

Number of states where property subject to conservation easement is located right arrow

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... right arrow

(ii)

Assets included in Form 990, Part X ............................... right arrow

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... right arrow

Assets included in Form 990, Part X ............................... right arrow

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) (Rev. 1-2025)

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(c) Two years back	(d) Three years back	(e) Four years back

1a	Beginning of year balance ....
b	Contributions ...
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....
g	End of year balance ......

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment right arrow

Permanent endowment right arrow

Term endowment right arrow

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .................

3a(i)

(ii) Related organizations .................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....	5,266,335		5,266,335
b	Buildings ....	26,009,010	14,296,121	11,712,889
c	Leasehold improvements	2,560,019	2,103,081	456,938
d	Equipment ....	10,265,924	7,513,361	2,752,563
e	Other .....	1,329,198	1,133,891	195,307
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				20,384,032

Schedule D (Form 990) (Rev. 1-2025)

Page 3

Part VII

Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
Member deposits	1,018,415,712
FHLB advances	207,689,884
Lease liabilities	747,652
Other liabilities	234,483





Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	1,227,087,731
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) (Rev. 1-2025)

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	54,529,577
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	350,016
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d .....................			2e	350,016
3	Subtract line 2e from line 1..................			3	54,179,561
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b	797,742
c	Add lines 4a and 4b....................			4c	797,742
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	54,977,303

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........			1	51,306,622
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d....................			2e	0
3	Subtract line 2e from line 1...................			3	51,306,622
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ...........	4b	797,742
c	Add lines 4a and 4b.....................			4c	797,742
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	52,104,364

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
Part IV, Line 2b:	St. Anne's Credit Union as part of loan operations collects payments from borrowers to be held in escrow to pay real estate taxes and homeowners insurance premiums. As of the end of this tax year, the Credit Union is reporting approximately $2,143,000 of mortgagers' escrow accounts within its financial statements. This balance is included within total deposit liabilities. Additionally, The Credit Union has transferred a portion of its originated commercial real estate loans to participating lenders. The amounts transferred have been accounted for as sales and are therefore not included in the Credit Union's accompanying balance sheets. The Credit Union and participating lenders share ratably in cash flows and any gains or losses that may result from a borrower's lack of compliance with contractual terms of the loan. The Credit Union continues to service the loans on behalf of the participating lenders and, as such, collects cash payments from the borrowers, remits payments (net of servicing fees) to participating lenders and disburses required escrow funds to relevant parties. At December 31, 2024, the Credit Union was servicing loans for participants aggregating $1,732,000.
Part X, Line 2:	The Credit Union is exempt from federal and state taxes on income under provisions of the Internal Revenue Code and state statutes. Tax positions taken or expected to be taken, including the position that the Credit Union qualifies as a tax exempt entity, are required to be evaluated to determine whether the tax positions are "more-likely-than-not" to be upheld under regulatory review. Tax positions not deemed to meet the more-likely-than-not threshold would be accrued and disclosed in the financial statements. There are no uncertain tax positions that require accrual or disclosure at December 31, 2024 or 2023.
Part XI, Line 4b - Other Adjustments:	Loan and interest processing fees, net against revenue accounts 797,742.
Part XII, Line 4b - Other Adjustments:	Loan and interest processing fees, net against revenue accounts 797,742.

Schedule D (Form 990) (Rev. 1-2025)

Additional Data

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Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

Schedule I
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization
St Anne's Credit Union

Employer identification number
04-2128094

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient

that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section (if applicable)	(d) Amount of cash grant	(h) Purpose of grant or assistance
(1) Cooperative Credit Union Association 845 Donald Lynch Boulevard Marlborough,MA01752	04-3403594	501(c)(6)	8,150	Build a Bed and annual appeals
(2) EasCorp Credit Unions at Heart 35 Corporate Drive Suite 300 Burlington,MA01803	81-4905853	501(c)(3)	11,500	First Downs to Fight Pediatric Brain Cancer
(3) Fall River Historical Society 451 Rock Street Fall River,MA02720	04-2125012	501(c)(3)	6,000	Annual Fundraiser
(4) Narragansett Council Boy Scouts of America 223 Scituate Avenue Cranston,RI02921	05-0308384	501(c)(3)	10,496	Annual fundraiser
(5) One Southcoast Chamber 200 Pocasset Street Fall River,MA02721	84-3311136	501(c)(6)	15,750	Sponsorships for forums and public events
(6) Plymouth Area Chamber of Commerce 100 Armstrong Road 204 Plymouth,MA02360	04-2078732	501(c)(6)	8,642	Sponsorships for forums and public events
(7) United Way of Greater Fall River 30 Bedford Street Fall River,MA02720	04-2104026	501(c)(3)	14,250	Sponsorships and funding for charitable operations
(8) United Way of Greater New Bedford Inc 128 Union Street 403 New Bedford,MA02740	04-2104264	501(c)(3)	12,000	Sponsorships and funding for charitable operations

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) Rev. 1-2025

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance

(1) Scholarships	12	24,000
(1)
(2)
(3)
(4)
(5)
(6)
(7)

Part IV

Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.

Return Reference	Explanation
Part I, Line 2:	St. Anne's Credit Union is committed to playing an active role in the betterment of its community. One way the Credit Union furthers this goal is to provide charitable grant and award programs. These grant programs include working to provide higher education advancement opportunities for the future leaders of our society. We offer a number of annual scholarship opportunities to help local students excel and reach their fullest potential. These scholarships are open to students from Massachusetts and Rhode Island communities in the Credit Union's service area. The Credit Union may also from time-to-time pay awards to other charitable and non-profit entities operating in its service area that advance causes that align with the goals and priorities of the Credit Union and its membership. The management team and Board of Directors reviews each application carefully to ensure any disbursements of funds are used on qualifying, charitable purposes. Grants and awards are monitored closely to ensure that expenditures are appropriate and awarded funds are used in accordance with their designated purposes.

Return Reference

Explanation

Part I, Line 2:

St. Anne's Credit Union is committed to playing an active role in the betterment of its community. One way the Credit Union furthers this goal is to provide charitable grant and award programs. These grant programs include working to provide higher education advancement opportunities for the future leaders of our society. We offer a number of annual scholarship opportunities to help local students excel and reach their fullest potential. These scholarships are open to students from Massachusetts and Rhode Island communities in the Credit Union's service area. The Credit Union may also from time-to-time pay awards to other charitable and non-profit entities operating in its service area that advance causes that align with the goals and priorities of the Credit Union and its membership. The management team and Board of Directors reviews each application carefully to ensure any disbursements of funds are used on qualifying, charitable purposes. Grants and awards are monitored closely to ensure that expenditures are appropriate and awarded funds are used in accordance with their designated purposes.

Schedule I (Form 990) Rev. 1-2025

Additional Data

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- TIN:

Schedule J
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic

Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic

Attach to Form 990.
medium right arrow graphic

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

St Anne's Credit Union

Employer identification number

04-2128094

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....

Yes

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....

Yes

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? .............

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Yes

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ....................

Any related organization? .......................

If "Yes," on line 5a or 5b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ..................

Any related organization? ......................

If "Yes," on line 6a or 6b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................

If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) (Rev. 1-2025)

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column (B) reported as deferred on prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1Eileen Migliozzi President/CEO	(i) (ii)	526,722 ------------- 0	31,250 ------------- 0	393,874 ------------- 0	70,700 ------------- 0	37,981 ------------- 0	1,060,527 ------------- 0	392,951 ------------- 0
2Peter Panaggio EVP/CFO	(i) (ii)	275,348 ------------- 0	13,832 ------------- 0	906 ------------- 0	51,676 ------------- 0	34,982 ------------- 0	376,744 ------------- 0	0 ------------- 0
3Joseph Nash SVP/Chief Lending Officer	(i) (ii)	229,401 ------------- 0	7,348 ------------- 0	2,601 ------------- 0	14,610 ------------- 0	37,982 ------------- 0	291,942 ------------- 0	0 ------------- 0
4Michelle Marcos SVP Human Resources	(i) (ii)	197,553 ------------- 0	6,137 ------------- 0	906 ------------- 0	9,357 ------------- 0	28,441 ------------- 0	242,394 ------------- 0	0 ------------- 0
5Karen Skinner SVP Operations & Compliance	(i) (ii)	180,222 ------------- 0	5,652 ------------- 0	906 ------------- 0	7,856 ------------- 0	30,059 ------------- 0	224,695 ------------- 0	0 ------------- 0
6Jeremy Turner VP Information Technology	(i) (ii)	153,714 ------------- 0	5,568 ------------- 0	328 ------------- 0	9,982 ------------- 0	31,122 ------------- 0	200,714 ------------- 0	0 ------------- 0
7Luisa Rochester VP Residential Lending	(i) (ii)	152,079 ------------- 0	5,417 ------------- 0	1,366 ------------- 0	4,820 ------------- 0	15,000 ------------- 0	178,682 ------------- 0	0 ------------- 0
8Robin Levesque SVP Branch Administration	(i) (ii)	136,098 ------------- 0	4,409 ------------- 0	1,722 ------------- 0	8,689 ------------- 0	16,664 ------------- 0	167,582 ------------- 0	0 ------------- 0

Schedule J (Form 990) (Rev. 1-2025)

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.

Return Reference	Explanation
Part I, Line 1a	A Director may be reimbursed for actual expenses incurred in the performance of their responsibilities as a Director or as a Member of any Committee. Request for reimbursement must be submitted in writing along with the appropriate receipts attached and proper reimbursement form. Out of pocket expenses for incidentals, such as gratuities for porters and other luggage assistance personnel, bellboys, valets, room tips, food vendors, and airport assistance personnel, and other reasonable expenses in which receipts could not be obtained will be limited to $125 per conference. All expense forms submitted must be done so within 45 days of incurring the expense and will then be reviewed and approved by the Controller/Finance and reported to the Board of Directors monthly. The annual budget of the credit union shall contain a line item to address Directors' expenses. The Director may bring his or her spouse or other companion. The credit union will pay for travel, lodging, meals and related expenses of both the Director and the other person. It is very common and not unreasonable in any industry for conference and seminar attendees to bring a travel guest or companion. This policy therefore allows a Director to bring a spouse, relative, friend, employee, business associate, or caregiver. Having the Director attendee bring a guest further allows for comfortable participation, assistance in the travel process as well as having an opportunity to better inform and educate the guest about the credit union and the financial services industry. It also will give the guest an appreciation for the time and effort that the volunteer Directors give in discharging their responsibility as a Director. Attending such events affords Directors the opportunity to be exposed to additional information, knowledge, and ideas and to interact with other individuals performing similar responsibilities so they may better represent their members in their position. Directors and their spouse or companion will be limited to three such educational conferences, seminars, or conventions a year, unless otherwise recognized and voted by the Board of Directors. The three conference limit does not include expenses incurred in participation in any strategic planning sessions. Any expenditure associated with performance of their responsibility as a Director or member of a committee or in acting for or on behalf of the credit union shall include the conference, sponsor group, dates, location, amount to be approved, Directors name, and accompany guest for approval by the Board of Directors. During the period covered by this Form 990 tax return, the following individuals received reimbursements for companion travel costs: - Bill Bouchard: $1,291 - Bruce Fernandes: $2,087 - Claire Entel: $2,198 - John Ledwidge: $1,776 - Yoni Sunshine: $1,201 - Colleen Brady: $1,082
Part I, Line 4b	The Credit Union maintains 457(f) supplemental executive retirement plans ("SERPs") with various key officers and top executives of the Organization. The SERP agreements allow for employer-paid contributions only. Under the SERP agreements, the Credit Union is to make contributions to a participants' accounts over a series of five years, which then cumulatively vest as of the last day of the fifth year. Subsequent employer-paid contributions to the participants' SERPs after the initial five years opening the agreement are subject to the review and approval of the Board of Directors and are based upon budgetary constraints and approved compensation and benefit arrangements. For the period covered by this Form 990 tax return, certain executives and officers of the Credit received credits into their SERP accounts. These credits are expected to be vested and payable in future years, along with other accumulative credits to the SERP accounts through the applicable vesting period. Accordingly, such amounts have been reported on this Form 990, Schedule J, Part II, Column C as deferred compensation. Individuals reported on this Form 990 who received such SERP credits are as follows: - Eileen Migliozzi: $50,000 - Peter Panaggio: $35,000 Additionally, during this tax year, Eileen Migliozzi, Credit Union President/CEO, received taxable distributions from her SERP of $392,951. This payment relates to amounts credited to her SERP during the years 2019 through 2023, and which vested to her as of December 31, 2023. As these distributions are considered taxable income to her and relate to amounts deferred to her SERP account in previous years, these distributions have included within amounts reported on this Form 990, Schedule J, Part II, Column B(iii), Other Income; as well as within amounts reported on Column F, Compensation Reported as Deferred on Prior Forms 990.

Return Reference

Explanation

Part I, Line 1a

A Director may be reimbursed for actual expenses incurred in the performance of their responsibilities as a Director or as a Member of any Committee. Request for reimbursement must be submitted in writing along with the appropriate receipts attached and proper reimbursement form. Out of pocket expenses for incidentals, such as gratuities for porters and other luggage assistance personnel, bellboys, valets, room tips, food vendors, and airport assistance personnel, and other reasonable expenses in which receipts could not be obtained will be limited to $125 per conference. All expense forms submitted must be done so within 45 days of incurring the expense and will then be reviewed and approved by the Controller/Finance and reported to the Board of Directors monthly. The annual budget of the credit union shall contain a line item to address Directors' expenses. The Director may bring his or her spouse or other companion. The credit union will pay for travel, lodging, meals and related expenses of both the Director and the other person. It is very common and not unreasonable in any industry for conference and seminar attendees to bring a travel guest or companion. This policy therefore allows a Director to bring a spouse, relative, friend, employee, business associate, or caregiver. Having the Director attendee bring a guest further allows for comfortable participation, assistance in the travel process as well as having an opportunity to better inform and educate the guest about the credit union and the financial services industry. It also will give the guest an appreciation for the time and effort that the volunteer Directors give in discharging their responsibility as a Director. Attending such events affords Directors the opportunity to be exposed to additional information, knowledge, and ideas and to interact with other individuals performing similar responsibilities so they may better represent their members in their position. Directors and their spouse or companion will be limited to three such educational conferences, seminars, or conventions a year, unless otherwise recognized and voted by the Board of Directors. The three conference limit does not include expenses incurred in participation in any strategic planning sessions. Any expenditure associated with performance of their responsibility as a Director or member of a committee or in acting for or on behalf of the credit union shall include the conference, sponsor group, dates, location, amount to be approved, Directors name, and accompany guest for approval by the Board of Directors. During the period covered by this Form 990 tax return, the following individuals received reimbursements for companion travel costs: - Bill Bouchard: $1,291 - Bruce Fernandes: $2,087 - Claire Entel: $2,198 - John Ledwidge: $1,776 - Yoni Sunshine: $1,201 - Colleen Brady: $1,082

Part I, Line 4b

The Credit Union maintains 457(f) supplemental executive retirement plans ("SERPs") with various key officers and top executives of the Organization. The SERP agreements allow for employer-paid contributions only. Under the SERP agreements, the Credit Union is to make contributions to a participants' accounts over a series of five years, which then cumulatively vest as of the last day of the fifth year. Subsequent employer-paid contributions to the participants' SERPs after the initial five years opening the agreement are subject to the review and approval of the Board of Directors and are based upon budgetary constraints and approved compensation and benefit arrangements. For the period covered by this Form 990 tax return, certain executives and officers of the Credit received credits into their SERP accounts. These credits are expected to be vested and payable in future years, along with other accumulative credits to the SERP accounts through the applicable vesting period. Accordingly, such amounts have been reported on this Form 990, Schedule J, Part II, Column C as deferred compensation. Individuals reported on this Form 990 who received such SERP credits are as follows: - Eileen Migliozzi: $50,000 - Peter Panaggio: $35,000 Additionally, during this tax year, Eileen Migliozzi, Credit Union President/CEO, received taxable distributions from her SERP of $392,951. This payment relates to amounts credited to her SERP during the years 2019 through 2023, and which vested to her as of December 31, 2023. As these distributions are considered taxable income to her and relate to amounts deferred to her SERP account in previous years, these distributions have included within amounts reported on this Form 990, Schedule J, Part II, Column B(iii), Other Income; as well as within amounts reported on Column F, Compensation Reported as Deferred on Prior Forms 990.

Schedule J (Form 990) (Rev. 1-2025)

Additional Data

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Schedule L
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Transactions with Interested Persons

Complete if the organization answered "Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c, or Form 990-EZ, Part V, line 38a or 40b.
Attach to Form 990 or Form 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

St Anne's Credit Union

Employer identification number

04-2128094

Part I

Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 501(c)(29) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.

1(a) Name of disqualified person	(c) Description of transaction	(d) Corrected?
1(a) Name of disqualified person	(c) Description of transaction	Yes	No

Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... $

Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ $

Part II

Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22

(a) Name of interested person	(b) Relationship with organization	(c) Purpose of loan	(d) Loan to or from the organization?		(e) Original principal amount	(f) Balance due	(g) In default?		(h) Approved by board or committee?		(i) Written agreement?
(a) Name of interested person	(b) Relationship with organization	(c) Purpose of loan	To	From	(e) Original principal amount	(f) Balance due	Yes	No	Yes	No	Yes	No
(1) Directors and Officers	Directors and Officers			X				No	Yes		Yes



Total ............... $

Part III

Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.

(a) Name of interested person	(b) Relationship between interested person and the organization	(c) Amount of assistance	(d) Type of assistance	(e) Purpose of assistance

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 50056A

Schedule L (Form 990) (Rev. 1-2025)

Page 2

Part IV

Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.

(a) Name of interested person	(b) Relationship between interested person and the organization	(c) Amount of transaction	(d) Description of transaction	(e) Sharing of organization's revenues?
(a) Name of interested person		(c) Amount of transaction	(d) Description of transaction	Yes	No
(1) Kevin Fitzpatrick	Director	148,677	Kevin Fitzpatrick served on St. Anne's Credit Union's Board of Directors in 2024. Kevin Fitzpatrick is also the owner and CEO of Advanced Alarm Systems, an alarm systems service provider. The Credit Union engaged in transactions with Advanced Alarm Systems to provide alarm services during this reporting period. These transactions individually exceeded $10,000 and in aggregate summed to $148,677 by the end of this tax year. All transactions between the Credit Union and Advanced Alarm Systems were negotiated at fair market value and at arm's-length in accordance with the Credit Union's conflict of interest policy.		No

Part V

Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).

Return Reference	Explanation
Form 990, Schedule L, Part II	Some of the Credit Union's Officers and Directors have loans outstanding with the Credit Union. These loans were obtained in the ordinary course of business of the Credit Union, and the terms of the loans were agreed upon under the same terms and conditions as available to all members.Form 990, Schedule L, Part II, is intended to report all loans to and/or from Interested Persons and 990-filing tax-exempt organizations. However, Loans from a tax-exempt Credit Union made to an interested person under the same terms as offered to other members are explicitly excepted from such disclosure requirements. Therefore, specifics as to such Board Member loans and deposits with the Credit Union have been excluded from this Form 990, Schedule L, in accordance with IRS Instructions.

Return Reference

Explanation

Form 990, Schedule L, Part II

Some of the Credit Union's Officers and Directors have loans outstanding with the Credit Union. These loans were obtained in the ordinary course of business of the Credit Union, and the terms of the loans were agreed upon under the same terms and conditions as available to all members.Form 990, Schedule L, Part II, is intended to report all loans to and/or from Interested Persons and 990-filing tax-exempt organizations. However, Loans from a tax-exempt Credit Union made to an interested person under the same terms as offered to other members are explicitly excepted from such disclosure requirements. Therefore, specifics as to such Board Member loans and deposits with the Credit Union have been excluded from this Form 990, Schedule L, in accordance with IRS Instructions.

Schedule L (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
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- TIN:

SCHEDULE O
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization

St Anne's Credit Union

Employer identification number

04-2128094

Return Reference	Explanation
Form 990, Part VI, Section A, line 6	The St. Anne Credit Union is a member-only credit union that is open to people who reside, work, attend school, or have a place of business in: (i) the Massachusetts counties of Bristol, Barnstable, Norfolk, Plymouth or Suffolk; (ii) the Rhode Island counties of Bristol, Newport, or Providence; (iii) the following additional cities/towns in Rhode Island: Coventry, East Greenwich, Warwick, West Warwick, or North Kingstown.
Form 990, Part VI, Section A, line 7a	The Credit Union's membership exerts powers and responsibilities over the Credit Union's board composition in the following ways: 1. A Special Nominating Meeting of the Credit Union's membership shall take place at least one month before the Annual Meeting for the purpose of presenting nominations for Directors to be elected at the next Annual Meeting. Nominations are made by the membership at the Nominating Meeting. 2. The Board of Directors are elected by the membership at the Credit Union's annual meetings.
Form 990, Part VI, Section A, line 7b	The Credit Union's membership exerts powers and responsibilities over the Credit Union's governance decisions in the following ways: 1. The Credit Union maintains a Credit Committee, responsible for assessing the credit worthiness of applicants for loans and lines of credit. This Committee is to be composed of at least one (1) member of the Board of Directors and not fewer than three (3) nor more than five (5) individuals from the Credit Union's membership. 2. The Credit Union maintains an Investment Committee, which is responsible for the hiring and oversight of investment advisors, brokers, accountants, and the Credit Union's financial performance. The Investment Committee shall be elected by the Board of Directors from among its members, and shall consist of at least one (1) member of the Board of Directors and not fewer than three (3) nor more than five (5) individuals from the Credit Union's membership. 3. The Credit Union maintains an Audit Committee. The Auditing Committee shall make, or cause to be made, such audits, and to prepare and submit such written reports, as are required by applicable law and regulations and safe and sound practices. The Auditing Committee shall be elected by the Board of Directors from among its members, and shall consist of not fewer than three (3) nor more than five (5) Directors, provided that (i) no officer may be a member of the Auditing Committee and (ii) no person may be a member of both the Credit Committee and the Auditing Committee. The Auditing Committee members shall elect one (1) of the members as Chairperson. 4. The charter and bylaws of the Credit Union shall be made available for inspection by any member, and such documents may be amended by the members at an annual meeting or special meeting by majority vote.
Form 990, Part VI, Section B, line 11b	For the period covered by this Form 990, the Credit Union has engaged an independent public accounting firm to prepare the Credit Union's annual Form 990 tax return. The Form 990 was prepared in coordination with the Credit Union's chief financial officer. The Board of Directors delegated the responsibility to review and approve the Form 990 to the CFO. The Board may be provided a copy of the Form 990 upon request.
Form 990, Part VI, Section B, line 12c	Each St. Anne's Credit Union employee and board member must avoid any conflict of interest that might result in personal benefit to the employee or members of the employee's family. Similarly, any appearance of such conflict of interest should be avoided. Personal benefit is defined as any type of gift, favor, gratuity, service, entertainment, compensation, fee, loan or legacy and no such present or future benefit, which could be perceived as arising from a business relationship, shall be accepted by the employee from any member, potential member or supplier of St. Anne's Credit Union. In keeping with this policy, the giving or receiving of a gift is prohibited unless the gift is of nominal value (less than $25.00) and a refusal to accept it would be a business discourtesy. Under federal and state statutes, it is illegal for Credit Union directors or employees to receive gifts, fees or anything of value in connection with the extension of credit. St. Anne's Credit Union employees are not permitted to knowingly authorize the extension of credit, direct or indirect, to any person, partnership, association, corporation, other business entity or trust where there exists a family relationship to the employee. Family relationship is defined as employee's relative by blood, marriage or adoption. Members of the Credit Union's Board and the Credit Union's employees are expected to understand and comply with this conflict of interest policy during their term of service and to disclose any perceived or possible conflicts as they become known.
Form 990, Part VI, Section B, line 15a	The Credit Union employs a thorough and rigorous review and approval process for any compensation and benefits paid to its President and CEO. The Credit Union's human resources team coordinates with the Board's executive committee to evaluate the performance of the Credit Union's CEO based on a multi-point evaluation and analysis, adjusted for current market trends and conditions. Factors considered by this group of reviewers include return on assets under the considered individual's tenure; efficiency in operations and in use of assets; membership growth; budget constraints as well as adherence to budgetary guidelines and restrictions; and long-term organizational strategies. After arriving at an agreed upon executive compensation and benefits package, the recommendations are sent by the committees to the Board of Directors for their own review and consideration. CEO compensation then only becomes effective upon the approval of the Board. The Board may also review and approve incentive and discretionary compensation items as they may occur, for officers and key employees other than the CEO. However, because the compensation and benefits paid to officers and key employees other than the CEO are also subject to the review and insight of the CEO, this Form 990, Section B, Line 15b has been answered "no."
Form 990, Part VI, Section C, line 19	The organization's governing documents, financial statements and Form 990 are available upon request to the general public.
Form 990, Part XII, Line 2c:	For its year ending December 31, 2024, the Organization engaged Baker Newman & Noyes, LLC, an independent certified public accounting firm, to audit its financial statements and to assist in the preparation and filing of its annual Form 990. Baker Newman & Noyes was not engaged by the Organization prior to this filing period. Accordingly, the engagement with Baker Newman & Noyes represents a change in audit procedures and processes. However, the audit was subject to the same oversight and review procedures by the Organization as was done with the predecessor firm.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) (Rev. 1-2025)

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